France, Japan Interested In Lagos Monorail Project

The French and Japanese governments have allocated the sum of $1 billion (about ₦ 197 billion) for the construction of the monorail project in Lagos State, aimed at boosting the state government’s effort in sustaining its mega city status.

According to the Commissioner for Economic Planning and Budget, Mr Akinyemi Ashade, “In a bid to expanding its development partnership with Lagos State government in urban mass transportation, Japanese International Cooperation Agency (JICA) will commit the sum of $1 billion to the development of a mono rail which will connect Marina to Victoria Island and Ikoyi.”

He also said that the continued increase in the state population had put pressure on the state to partner other governments in improving the standards of living in the state.

However, he stated that the availability of the fund would be determined by the results of a feasibility study, saying, “JICA will commit the sum of $1 billion to the project if the result of the preliminary survey is validated by the feasibility study amongst other conditions.”